Corn A Penny Higher

Corn futures are mostly 1 cent per bushel higher this morning. Futures closed 2 1/2 cents to 3 cents lower after Wednesday’s round of trading. Preliminary open interest jumped 16,907 contracts on fresh hedging interest. CONAB corn exports for the 19/20 MY remained UNCH at 34 MMT, which was down from the 18/19 record of 39 MMT corn exports but more bearish than the trade had hoped. Brazil’s CONAB slightly lowered their 19/20 corn production forecast, down 30,000 MT to 98.37 MMT. The Nov WASDE projects 101 MMT of Brazilian corn. The weekly EIA report will be published shortly.

---provided by Brugler Marketing & Management





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